Oil prices slipped on Thursday after surging in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns and demand versus supply expectations.

Crude oil fell, with market sentiment weighed by concerns over the potential economic impact of trade tariffs along with a fresh warning over a potential surplus in global crude supply.

Global oil demand is under pressure from the escalating trade war at the same time that OPEC+ is reviving output, threatening to deepen a supply surplus, the International Energy Agency said.